The King's Speech To Announce 'All But The End Of Leasehold System' System'

If it does come about, that will be an end to an unjust feudal relic.

The recent revival and abuse of the leasehold is leading to measures that are using a sledgehammer to crush a nut.

Most leasehold properties have long leases and low fees and in most cases the leases can be extended at a reasonable cost.

DD lived in Letchworth Garden City. Originally everyhouse was leasehold with 999 year leases and an unchangeable £30 a year leasehold charge. DD could have bought the freehold of her house for a couple of thousand £s, but didn't bother on the basis that with nearly 900 years still left of the lease, she as good as had a freehold anyway.

I absolutely agree that, after recent abuses, leasehold needs reform, but I see no reason for abolition.

Abuse of the leasehold system needs to change. I live in a leasehold property in Wales and we pay one daffodil each year. I don't feel that's too onerous but people paying unfair and mounting costs each year needs to be stopped.

There's been disgraceful abuse of leaseholds in recent years. Thank goodness something is being done about it, it has made too many properties unsaleable and caused untold misery to some people who were IMO misled by solicitors working on behalf of builders not their clients.

It's the "all but" bit that's a bit worrying.

I hope it will apply to warden assisted/retirement properties. The developers of these projects play fast and loose with the residents, as, to some extent, they've got them over a barrel and can be a nightmare to sell.

All the time a property is leasehold you're at the mercy of the freeholder. Even if it's a share of the freehold arrangement, it's still treated as a leashold property for sale and purchase purposes.

AGAA4

Abuse of the leasehold system needs to change. I live in a leasehold property in Wales and we pay one daffodil each year. I don't feel that's too onerous but people paying unfair and mounting costs each year needs to be stopped.

Is that Bulb or flower? And how do you pay it?

The building I live in was built in 1918 for soldiers incapacitated in WW1. The landowner agreed that as it was built for that purpose he would only charge a daffodil each year for the lease. This has continued for over a hundred years. It is just a daffodil flower and one of the residents pays each year. This for Whitewave.

Now that is so civilised! Be good to turn it into a bulb and plant them all - in memory of the fallen soldiers😊, what a lovely legacy.

I suppose the ‘all but’ could except some ancient leases, such as AGAA4 describes.
The leases on new build houses, which one would expect to be freehold as apparently a bone of contention. I have heard that they can rise exponentially.

The issue with leaseholds is when they drop under the 100 year mark.

My friend’s father died a couple of years ago, his flat was a to, he lived there for 40 years and the lease was a mere 70 years, before she could even think about she had to pay the enormous sum of £45,000 to extend said lease, this was on a very modest one bedroom flat, conversion not proudest built, in a very average area.

I’d be glad to see the back of leaseholds.

AGAA4

The building I live in was built in 1918 for soldiers incapacitated in WW1. The landowner agreed that as it was built for that purpose he would only charge a daffodil each year for the lease. This has continued for over a hundred years. It is just a daffodil flower and one of the residents pays each year. This for Whitewave.

I love the sound of that!

Sorry about typos in my post about friends lease!!

Yes we paid a little over that to extend the lease for Mum’s flat after she died.

The other issue is as others have said the extortionate fees etc, which appear to begin at say between 3-6k a year and rise exponentially.

I do think that the whole issue of residential housing and extortion needs to be looked at.

The trouble I think that people have been encouraged to look at all property as an asset rather than housing, therefore the temptation to exploit this asset is too great and results in what we are seeing today with a massive housing crises, exploitation and misery.